One in six households are multigenerational.
That is a lot more than we thought and along with single person households it is one of the leading growth segments.
Cultural shifts in Australia’s population mix combined with housing affordability are driving the increased demand for multi-generational housing. It is a demand shift that we need to be cognisant of.
Dual-living homes with a primary and secondary unit can meet the needs of a wide mix of people, and contribute to reducing living costs for homeowners;
- Young couples with no children can live in the secondary unit and rent out the primary unit
- When kids come along, a young family can move ‘next door’ into the primary unit and rent out the secondary unit
- Empty nesters can do either
- In each situation, income is realised by renting the unit that it not self-occupied – reducing the cost of living
With adaptable designs to suit a mix of demographic segments and life-stages, dual-living homes provide a ‘right-size’ housing solution for owner-occupiers – not just investors seeking high yields.
Knowing that there is growing demand for multi-generational housing improves the outlook for future resale. Not a bad thing for investors tapping the high yields and having a confident exit strategy.